Shahbandr launches Arabic AI toolkit for e-commerce

ECOMMERCE-

Shahbandr launches MENA’s first Arabic AI toolkit for e-commerce: Shahbandr AI went live in the Kingdom and MENA, touted as the region’s first integrated Arabic AI toolkit for e-commerce stores, Shahbandr said in a press release (pdf). Available free of charge to merchants on the Shahbandr platform, the toolkit provides a full Arabic interface and enables users to generate images, videos, audio, and marketing copy from a single dashboard.

REAL ESTATE-

Umm Al Qura to sell two Masar plots for SAR 438.8 mn: Umm Al Qura for Development and Construction signed two reservation agreements with Mosa Abdulaziz Almosa and Sons Group Real Estate Company to sell two land plots in Makkah’s Masar Destination for a combined SAR 438.8 mn, it said in a disclosure to Tadawul yesterday. The two plots, which cover 4.9k sqm, are earmarked for hospitality projects, with one plot valued at SAR 237.4 mn and the other at SAR 201.5 mn. Final sale agreements are expected within six months.

Cooling systems for Oxagon AI data center: Local data infrastructure firm DataVolt signed an MoU with LG Electronics and its local partner Shaker Group to provide cooling systems for a new AI data center being developed in Neom’s industrial city, Oxagon, according to a press release. The agreement includes the supply of large-scale chillers and coolant distribution units for the facility.

REFRESHER- DataVolt signed a USD 5 bn agreement with Oxagon in February to set up a fully sustainable AI data center with an initial capacity of 300 MW, to be eventually ramped up to 1.5 GW.

CAPITAL MARKETS-

Morgan Stanley Saudi Arabia received the Exchange’s approval to conduct market making activities on RaoomTrading and Americana Restaurants International as of today, according to a Tadawul disclosure. The move comes after the firm was cleared earlier this month to make markets for 16 other securities listed on Tadawul and Nomu.